Saba Capital Income & Opportunities ETF (CEFS)
BATS BATS Primary 
XBER 
CEFS: Remains An Attractive Closed-End Fund Focused ETF
Saba Closed-End Funds ETF has put up strong performance since our last update and beat out FOF as expected. CEFS is a leveraged ETF that invests in closed-end funds, providing exposure to activist targets of Saba Capital Management all in one package. CEFS has a solid track record, high distribution yield, and a diversified portfolio of equity, fixed-income, alternatives, and mixed allocation.
CEFS: A Unique Closed-End Fund Play
Saba Closed-End Funds ETF aims to generate excess returns by investing in closed-end funds trading discounted to their net asset value. The CEFS ETF is managed by Saba Capital Management, founded by Boaz Weinstein, and owns over 100 closed-end funds. The fund offers diversification across asset classes and investment managers, with a focus on equities, and has a high expense ratio of 5.81%.
